Automotive Telematics Market:
The GMI Research’s latest analysis reveals that the Automotive Telematics Market is slated to register a higher CAGR over the forecast period. This is attributed to the emerging trend of connectivity solutions, government regulations for adopting telematics, and ease of vehicle diagnosis.
Automotive Telematics Market’s leading Manufacturers:
- Masternaut
- Cartrack
- Omnitracs
- MiX Telematics
- Trimble Inc.
- TomTom International BV.
- HARMAN International
- Verizon
- Teletrac Navman US Ltd
- Systems Inc.
Automotive Telematics Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)
Key Drivers
The emerging trend of connectivity solutions, government regulations for the adoption of telematics, and ease of vehicle diagnosis are the key drivers responsible for the growth of the global automotive telematics market size. The government has approved various regulations and policies for the security, safety, and monitoring of vehicles. For instance, the Ministry of Industry and Information Technology (MIIT) and the Standardization Administration of China (SAC) partnered with established national guidelines in 2017 associated with the development of telematics systems. Consumers expect their vehicles to run a task like computers and smartphones, which is the main cause why automobile manufactures are installing connectivity solutions in their vehicles to increase automobile sales. For example, Nissan Motor Co. Ltd. agreed on a partnership with Microsoft Azure to install Connect Telematics Systems (CTS) in all LEAF and Infiniti models. The diagnostics systems enable both customers and automobile dealers to control potential automobile problems before their occurrence. On the other hand, the factors hampering the growth of the global automotive telematics market share in terms of revenue include limited uninterrupted and seamless internet connectivity, high installation costs, and the threat of data hacking.
Connectivity Solutions Segment Drivers
Based on the connectivity solutions, the embedded is anticipated to lead the market over the coming years. The telematic solutions and services cannot be utilized effectively without the strong presence of embedded connectivity solutions like eCall and remote diagnostics. In addition to this, various government regulations and policies for the usage of embedded connectivity will further fuel the market growth. For example, Europe made it compulsory to use eCall. These factors will augment the growth of the market.
Regional Drivers
Based on the region, Asia-Pacific is projected to rise at a higher CAGR in the coming years due to the rising number of automobile manufactures in economies such as China. In addition to this, the strong demand for telematics systems in the trucking sector to track consignments in emerging countries like Indonesia, China, and Thailand, is another factor contributing to the growth of the market. Moreover, the rising benefits of utilizing build-in connectivity and telematics in commercial vehicles will further lead to an upsurge in the growth of the automotive telematics market.
Automotive Telematics Market Segmentation:
Segmentation by Connectivity Solutions:
- Embedded
- Integrated smartphones
- Tethered
Segmentation by Application:
- Fleet/Asset Management
- Navigation & Location-based System
- Infotainment System
- Insurance Telematics
- Safety & Security
- Others
Segmentation by Vehicle Type:
- Commercial Vehicle
- Passenger Car
- Two-Wheeler
Segmentation by Channel Type:
- OEM
- Aftermarket
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
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